Three textile parks in AP set to launch with Rs 3.10 billion investment

Under this initiative, a grant of Rs 490.66 million has been allocated for infrastructure development projects in Andhra Pradesh for the financial year 2024-25.

The Ministry of Commerce and Industry is developing three textile parks in Andhra Pradesh under the Scheme for Integrated Textile Park (SITP) to enhance investments, create employment opportunities, and boost exports in the textile sector. These parks are being established in Anantapuramu, Nellore, and Guntur with a combined investment of over Rs 3.10 billion. Additionally, a textile park in Visakhapatnam has already been completed with an investment of Rs 1.34 billion.

The Ministry of Textiles is overseeing the development of Hindupur Vyapar Apparel Park in Anantapuramu with an allocation of Rs 1.02 billion, Tarakeswara Textile Park in Nellore with Rs 1.03 billion, and Guntur Textile Park in Guntur with Rs 1.05 billion under SITP. Brandix India Apparel Park in Visakhapatnam has already been completed under the same scheme.

In addition to textile park development, the Ministry of Micro, Small, and Medium Enterprises (MSME) is implementing the Micro and Small Enterprises Cluster Development Programme (MSE-CDP) across the country. Under this initiative, a grant of Rs 490.66 million has been allocated for infrastructure development projects in Andhra Pradesh for the financial year 2024-25.

Furthermore, the Government of India has approved three projects under the National Industrial Corridor Development Programme (NICDP) in Andhra Pradesh. These projects are being developed at Krishnapatnam node, Kopparthy Industrial Area, and Orvakal Industrial Area. Over the past five years, more than ₹531.36 crore has been disbursed through the National Industrial Corridor Development and Implementation Trust (NICDIT) to support industrial development in the state. These initiatives aim to strengthen Andhra Pradesh’s position as a key hub for textile and industrial growth.

News source: The Hindu Businessline